Epicor Picks Clarus' Bargain At The Software Flea Market
P.J. Jakovljevic - December 4, 2002

Event Summary

On October 23, Epicor Software Corporation (NASDAQ: EPIC), one of leading providers of integrated enterprise, e-Business and collaborative commerce software solutions solely for the mid-market, announced its financial results for the third quarter ended September 30, 2002. Total revenues for the quarter were $34.0 million, a 14% drop compared to $39.4 million for Q3 2001, while software license revenue totaled $6.8 million, a sizable 23% drop compared to $8.8 million a year ago (see Figure 1). However, net loss for the quarter, which includes $1.8 million in amortization of capitalized software development costs and acquired intangible assets, was $1.4 million, which is less than a third of a net loss in Q3 2001 of $4.5 million which included $1.5 million for the gain on the sale of a product line and $2.2 million in amortization of capitalized software development costs and acquired intangible assets...